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Imported goods seized, heavy penalties for export obligation violation.

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....The CESTAT upheld the duty demand, confiscation of imported goods for non-fulfilment of export obligation u/s 111(o), imposition of redemption fine u/s 125, and penalties of Rs.5,00,000/- on Appellant 1 and Rs.2,00,000/- each on Appellants 2 and 3 of the Customs Act, 1962. The duty quantified, redemption fine and penalties imposed in the impugned order were found correct and sustainable. The appeal was dismissed.....

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Imported goods seized, heavy penalties for export obligation violation.